BITCOIN - BTC/USDT - 1H - Technical analysis published on 12/19/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 102,539.28 USDT
My targets
98,892.34 USDT (-2.07%)
97,169.69 USDT (-3.77%)
My analysis
BITCOIN - BTC/USDT is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 102,539.28 USDT. The next support located at 98,892.34 USDT is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 97,169.69 USDT. Below this support, sellers could then target 95,749.12 USDT. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
6.4
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This analysis was given by MUHOZA. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BITCOIN - BTC/USDT rating is 100,979.35 USDT. On the day, this instrument gained +0.73% and was between 99,046.48 USDT and 101,059.26 USDT. This implies that the price is at +1.95% from its lowest and at -0.08% from its highest.99,046.48
101,059.26
100,979.35
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this BITCOIN - BTC/USDT chart shows a sharp bearish trend. 85.71% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
On the 18 technical indicators analysed, 4 are bullish, 4 are neutral and 10 are bearish. No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish doji star
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 97,169.69 | 98,892.34 | 100,705.65 | 100,979.35 | 102,539.28 | 106,517.44 | 108,254.86 |
| Change (%) | -3.77% | -2.07% | -0.27% | - | +1.54% | +5.48% | +7.20% |
| Change | -3,809.66 | -2,087.01 | -273.70 | - | +1,559.93 | +5,538.09 | +7,275.51 |
| Level | Minor | Major | Intermediate | - | Major | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 91,902.49 | 96,051.48 | 98,150.53 | 102,299.52 | 104,398.57 | 108,547.56 | 110,646.61 |
| Camarilla | 98,531.36 | 99,104.10 | 99,676.83 | 100,249.57 | 100,822.31 | 101,395.04 | 101,967.78 |
| Woodie | 90,877.51 | 95,539.00 | 97,125.55 | 101,787.04 | 103,373.59 | 108,035.08 | 109,621.63 |
| Fibonacci | 96,051.48 | 98,438.24 | 99,912.77 | 102,299.52 | 104,686.28 | 106,160.81 | 108,547.56 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 88,001.69 | 91,169.40 | 96,273.88 | 99,441.59 | 104,546.07 | 107,713.78 | 112,818.26 |
| Camarilla | 99,103.51 | 99,861.79 | 100,620.08 | 101,378.36 | 102,136.64 | 102,894.93 | 103,653.21 |
| Woodie | 88,970.08 | 91,653.59 | 97,242.27 | 99,925.78 | 105,514.46 | 108,197.97 | 113,786.65 |
| Fibonacci | 91,169.40 | 94,329.38 | 96,281.61 | 99,441.59 | 102,601.57 | 104,553.80 | 107,713.78 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 42,876.05 | 54,855.29 | 75,633.98 | 87,613.22 | 108,391.91 | 120,371.15 | 141,149.84 |
| Camarilla | 87,404.24 | 90,407.05 | 93,409.86 | 96,412.67 | 99,415.48 | 102,418.29 | 105,421.10 |
| Woodie | 47,275.78 | 57,055.15 | 80,033.71 | 89,813.08 | 112,791.64 | 122,571.01 | 145,549.57 |
| Fibonacci | 54,855.29 | 67,368.82 | 75,099.69 | 87,613.22 | 100,126.75 | 107,857.62 | 120,371.15 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 32.04 | |
| MACD (12,26,9): | -1,312.2100 | |
| Directional Movement: | -27.82 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 100,863.83 | |
| Parabolic SAR (0,02-0,02-0,2): | 102,277.02 | |
| Elder Ray (13): | -1,104.42 | |
| Super Trend (3,10): | 102,692.19 | |
| Zig ZAG (10): | 100,895.68 | |
| VORTEX (21): | 0.8400 | |
| Stochastique (14,3,5): | 17.96 | |
| TEMA (21): | 100,155.59 | |
| Williams %R (14): | -67.84 | |
| Chande Momentum Oscillator (20): | -3,458.43 | |
| Repulse (5,40,3): | 0.9500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1500 | |
| Courbe Coppock: | 6.86 |
| MA7: | 102,901.50 | |
| MA20: | 99,828.76 | |
| MA50: | 91,324.43 | |
| MA100: | 77,748.81 | |
| MAexp7: | 100,945.38 | |
| MAexp20: | 102,419.57 | |
| MAexp50: | 103,819.85 | |
| MAexp100: | 103,805.61 | |
| Price / MA7: | -1.87% | |
| Price / MA20: | +1.15% | |
| Price / MA50: | +10.57% | |
| Price / MA100: | +29.88% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | -1.41% | |
| Price / MAexp50: | -2.74% | |
| Price / MAexp100: | -2.72% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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